Is Big Biotech starting to resemble Big Pharma?

The GLP aggregated and excerpted this blog/article to reflect the diversity of news, opinion and analysis.

As drug developers and investors from around the world gather in San Francisco this week for the annual BIO International Convention, a new look at the biotech industry shows the biggest players are starting to behave more and more like pharmaceutical giants.

There are 17 biotech companies in the US that generate more than $500 million per year in revenue. And they’re increasingly focused on buying innovative new products through mergers and acquisitions, rather than developing them in house, according to a report from EY (formerly Ernst & Young) released May 30.

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Thanks to past biotech booms on the stock market and a series of breakthrough therapies — such as Gilead’s blockbuster hepatitis C drug Sovaldi — many biotech companies are now sitting on huge swaths of cash. Some have been around more than three decades and have a global reach. At the same time, stock gyrations have deflated the value of many true biotech startups — companies that haven’t even begun to earn revenue.

Read full, original post: Big Biotech is here — and it’s starting to look a lot like Big Pharma